B.C.’s new first-time homebuyer loans are a bad idea

UBC professors Tom Davidoff, Josh Gordon and Joshua Gottlieb penned an op-ed in the Vancouver Sun, arguing that the recently announced homebuyer loans program was counterproductive and ignored basic economics.

They warn that the new measure will make the housing affordability situation in Metro Vancouver worse and at considerable expense to taxpayers, running counter to recent efforts by the federal government to reduce housing prices by discouraging excessive borrowing.